[ad_1]
Gold prices rose and remained near yesterday’s all-time high as expectations of a September interest rate cut in the United States increased and demand for gold increased.
Even as concerns over escalating trade tensions between China and the United States continue, Republican presidential candidate Donald Trump said Taiwan offers nothing to the United States in the chip business and said it should pay the United States for its defense support.
As these developments unfold, investor anxiety is growing. Heightened geopolitical tensions are also leading to increased demand for safe-haven assets.
On the other hand, investors are certainly pricing in a 25 basis point rate cut this year after Fed officials said yesterday that progress has been made in bringing inflation down to their 2% target and the central bank is close to cutting rates in September.
Gold price update
Yesterday, gold hit a record high of $2,483 per ounce before retreating. At the same time, gold in grams also tested a new record high.
This morning, the price of gold per ounce was $2,467, up from yesterday’s close. Domestically, the price of gold per gram was 2,622 liras. The lowest price on the day was 2,611 liras and the highest was 2,628 liras.
[ad_2]
Source link
